Revenues Down, but U.S. Energy Companies on Pace to Lift Production to Record Highs

August 9, 2023--Researched by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Energy companies in North America continue to express optimism about production, even against the lower price scenario that prevailed during the first half of the year, suggesting a level of upstream resilience remains. Driven primarily by operations in the Williston Basin, which encompasses the Bakken Shale formation that straddles the U.S.-Canadian border, Northern Oil & Gas Incorporated (NYSE:NOG) (Minnetonka, Minnesota) turned in record production during the second quarter of the year. Other companies soldering on with projects, despite weak quarterly results, include Exxon Mobil Corporation (NYSE:XOM), EOG Resources Incorporated (NYSE:EOG) and Pioneer Natural Resources (NYSE:PXD).